Svein Arild Killingland appointed as CEO of Noreco

Stavanger, 13 May 2013: The Board of Norwegian Energy Company ASA (Noreco) is pleased to announce that Mr. Svein Arild Killingland has been appointed as Chief Executive Officer (CEO) of the company group. Svein Arild Killingland will take office on Monday 13 May 2013.

Svein Arild Killingland (57) was until recently employed as Senior Partner in HitecVision (2010-12). Killingland has previously held positions in Statoil, Revus Energy and Wintershall, predominantly within upstream oil and gas business development. Killingland holds a degree in Economics and Management from the Norwegian School of Economics and Business Administration.

Noreco has entered into a resignation agreement with the former CEO Einar Gjelsvik which implies that Gjelsvik will be available for Noreco and the new CEO in an interim period. The Board wishes to place on record its thanks to Gjelsvik for all the hard work he has put into the company during a challenging period. Gjelsvik has shown himself to possess a great capacity for work, and the Board wishes him all the best in his future endeavours. 

Kjetil Bakken, Investor Relations Manager (+47 91 889 889) 

This information is subject of the disclosure requirements pursuant to section of 5-12 of the Norwegian Securities Trading Act

About Norwegian Energy Company ASA

Noreco is an independent Norwegian oil company. The company’s focus is to explore, develop and produce oil and gas in the North Sea region. Since incorporation in 2005, the company has grown through license rounds, successful exploration and acquisitions. Noreco operates in Norway, Denmark and United Kingdom, and employs around 70 oil and gas professionals. Noreco is listed on the Oslo Børs (ticker NOR).

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Noreco is a publicly owned company with focus on the oil, gas and offshore industry. The company's shares are listed on the Oslo Stock Exchange (ticker NOR). For further information, please visit: